The vicious circle of poverty refers to a condition where:
a. c and d.
b. c and e.
c. people are poor because they cannot invest in capital goods and they cannot invest in capital goods because they are poor.
d. people cannot invest in capital goods because they are poor and they are poor because they cannot invest in capital goods.
e. poverty is relative and poor people remain poor because the wealthy grow wealthier.
a
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As prices change, the elasticity of supply describes the movement
A) of a shift in the supply curve. B) of the equilibrium price. C) along the supply curve. D) from a necessity to a luxury good.
Disposable income can be defined as national product
a. minus federal and state taxes. b. minus taxes plus transfers. c. minus indirect taxes. d. plus taxes plus transfers.
In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system. B. high rates of saving and investing. C. job training programs. D. funding for basic science.
Which of the following elements are necessary for an expansionary monetary policy to be successful?
a. the Fed decreasing money supply; banks sitting on reserves; firms refusing to borrow from banks b. the Fed decreasing money supply; banks using reserves for loans; firms refusing to borrow from banks c. the Fed increasing money supply; banks sitting on reserves; firms borrowing from banks d. the Fed increasing money supply; banks using reserves for loans; firms borrowing from banks